This page is for the people who carry a business and its debts at the same time. Sole proprietors and self employed people who invoice under their own name. Owners of small incorporated companies. Directors who have started wondering how far their own name is exposed if the company cannot pay. Anyone who signed a personal guarantee to get a lease, a loan or a line of credit approved. If the Canada Revenue Agency has started calling, or a filing deadline has gone by, or payroll has become the hardest cheque of the month, you are in the right place.

What follows is a straight account of the business debt solutions open to an owner in Canada, and of the line between what the company owes and what you owe. That line decides which routes are available to you, so it runs through everything else here. If what the company owes has crossed into what you owe, through personal guarantees or director liability, Consumer Proposals for the Self-Employed and Small Business Owners deals with exactly that side of the line.

Use the page in whatever order matches your week. If collection has already started, begin with the guide to stopping Canada Revenue Agency garnishments and bank freezes. If the question is what a settlement of your own debts would cost you each month, the Consumer Proposal Calculator will estimate it on your figures rather than on an average. A consumer proposal is a legal process under the Bankruptcy and Insolvency Act, filed through a Licensed Insolvency Trustee, the professional licensed to file one.

Nothing on this page is a pitch, and nothing here is for sale. In my practice the first conversation is free and carries no obligation.

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INSOLVENCY INSIGHTS FOR ALL

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